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I feel like this can only be true because you must have defined "launder money" to be any private usage of money (which isn't a sufficient definition of money l
by saurik 4y ago
I feel like this can only be true because you must have defined "launder money" to be any private usage of money (which isn't a sufficient definition of money laundering, to be clear). If you claim otherwise, then you need to be more specific with your reasoning.
To start: why would anyone need privacy--of communication or of shared resources (payment)--but for something illegal? If you have an answer for that for communication (which you claim to and of course should), then it also is the same answer for money.
Do you believe someone should be able to keep secret that they have some medical condition, and that that knowledge should only exist between them and their doctor? Well, fat lot of good that does when the doctor specializes in some specific issue and there is a record of you paying them.
Think it is sufficient to trust the bank, because you think their security and privacy are awesome? Well, that's the same argument for WhatsApp vs. something like Facebook Messenger: no need for end-to-end communication if you are willing to trust people.
- saghm 4y ago> If you have an answer for that for communication (which you claim to and of course should), then it also is the same answer for money. Not everyone believes that money is a form of speech, current US Court rulings on campaign finance notwithstanding.
- saurik 4y agoFWIW, I didn't just say that and then drop the issue: I provided the step-by-step explanation as to why. I also certainly understand people disagree: that's why I felt the need to leave the comment at all ;P.
- closeparen 4y agoProviding infrastructure that money launders could use, or actually do use, is not categorically illegal. But the law establishes certain obligations to try to mitigate money laundering. There are controls you need to implement, expertise you need to have on staff, a level of sophistication that your AML program needs to demonstrate. And there are enforcement regimes with audits and licensing to backstop all that. It is not a free for all.
- saurik 4y agoI am not sure how you expect to implement any of those without undermining the end-to-end nature of the private communication. Can you maybe explain how this would work in the context of the messaging application?
- closeparen 4y agoCorrect. One of the main anti money laundering controls is Know Your Customer (KYC). Anonymity is not allowed.